Kathmandu. The delegation headed by Ritu Singh Vaidya, President of Nepal Automobile Importers and Manufacturers Association Naima, Finance Minister Dr. Swarnim Wagle met with and presented detailed suggestions for policy and systemic reforms related to the automobile sector.

During the meeting, Naima pointed out the need for a stable, predictable and policy environment based on consultation with stakeholders and emphasized that the automobile sector should be recognized as a necessity and not a luxury. In addition, the demand to reduce the overall tax burden, make the tax structure simple and balanced and to maintain the hire purchase system of up to 80 percent loan and 20 percent down payment for vehicle purchase has also been put forward.

Naima pointed out the need for a clear, consistent and transparent system, noting that even after the completion of the customs inspection, the tendency to get confused based on different interpretations at the audit level is creating uncertainty in the business. Similarly, customs procedure facilitation, test infrastructure development, transportation law review, digital system integration, road safety and pollution control, promoting assembling industry under 'Make in Nepal' and ensuring long-term policy stability have also been raised.

Naima emphasizes that a clear, stable and incentive-oriented policy is needed for electric vehicles. In addition, it is also said that hybrid vehicles should be properly classified and a balanced and fair policy arrangement should be made according to the technology. Finance Minister Dr. Wagle stated that the suggestions presented by Naima are relevant and mentioned that the private sector is the main pillar of Nepal's economy. He stated that continuous dialogue between the Ministry and Naima is necessary and informed that work is being done to make the tax system more balanced and practical. He also expressed his commitment to include the suggestions presented in the upcoming policies and programs and budget.